Majestic Tech by an Enlightened Wealth Institute student

Do you want to make ONE MILLION Dollars in ONE Year just like I did? How to write a business plan is something that is often overlooked amongst budding entrepreneurs. One of the things Bill Barnett, my first Enlightened Wealth Institite instructor taught me was to WRITE YOUR BUSINESS Plan BACKWARDS!

What does that mean? Work backwards from your GOALS. Set your financial goals and simply work backwards from it step by step the actions needed to achieve that financial goal.

For instance, In my case, that was to make $1 Million in 1 Year. So from the $1 Million figure, you then determine what percentage came from real estate deals VS online internet website income. I decided 70 percent in real estate, 30% in online internet income. (NOTE - this was in 2003 and today, my online internet income is a greater percent than my real estate income).

Let’s take this example further, for me to make $700,000 per year in real estate, I had to plan out how many deals that would take! At an average profit of $20,000 per deal (NET profit - after all expenses) then I knew I had to do at least 35 deals per year to get to the goal of $700,000.

To do 35 deals per year - that can then be broken down to a per month goal of 35 divided by twelve months, equals almost 3 deals per month. Now doesn’t 3 deals per month sound SOOO MUCH EASIER than $700,000?

OK, now I know I need 3 deals per month and since my enlightened wealth institute teachings, I knew that real estate is JUST A NUMBERS GAME….so, to get 3 deals meant I had to call / talk to at least 300 motivated sellers! My typical deal to ‘talk to sellers’ ratio is usually one per every 50 sellers…however, just to be conservative for ANYONE to be able to achieve this - one real estate deal for every one hundred ‘motivated’ sellers you talk to.

In the business plan, I hope you are getting the ‘flow’ here as now you have a weekly, monthly and yearly target of how many sellers you must talk to/have contact with in order to achieve the overall financial goal. If you are not calling THREE hundred motivated sellers per month, or 75 per week… then don’t whine, cry or complain to ANYONE that “this doesn’t work” - because it DOES, I’ve done it, my colleagues at the enlightened wealth institute have done it and that is why it is SOOO important to surround yourself with successful entrepreneurs because YOU MUST believe it as well! Just like Michael Phelps said when being interviewed on his phenomenal success on achieving 8 gold medals…”I believed in myself”.

Tags:   enlightened wealth institute · marketing · real estate investing1 Comment